Some two municipal savings banks would offer credit cards in the second half of this year and two more would do the same in 2024 with a proposal approved at the insistence of the Plenary Session of Parliament, the president of the Peruvian Federation of Municipal Savings and Credit Banks reported today. (Fepcmac), Jorge Solis.
The initiative called the Law for the Strengthening of municipal boxes Savings and credit to promote competition for the benefit of consumers was approved by insistence by the Plenary of Congress last week, which means that it should be soon to be published in legal regulations, he said.
This proposal, approved by insistence, includes the incorporation of multilateral organizations to the shareholders of the municipal boxes to strengthen heritage and make them sustainable over time, he said.
It also covers the expansion of the operations of the boxes to offer financial products such as checking accounts, cashier’s checks, draft orders and Credit cards and debit, noted.
With that, the municipal savings banks will be able to offer credit cards with rates between 25% and 35%, Solís projected at a press conference.
The proposal approved by insistence in Congress “will allow us to offer more product to the clients of the municipal savings banks and be more competitive,” said the president of the union of municipal savings banks.
The Superintendency of Banking, Insurance and AFP (SBS) will continue to supervise the Credit cards in safeguarding financial stability and the initiative approved by insistence will provide 60 days to prepare the regulations, he said.
multilateral organization
At another time, he pointed out that the incorporation of multilateral organizations in the shareholding of the cajas ediles It will not only have a patrimonial impact on these financial institutions, but it will generate a side effect to promote financial inclusion in the country.
Las aedile boxes They are in talks with the World Bank (WB) so that it can become a partner in one of these institutions, Solís commented.
“Caja Huancayo hopes to incorporate the Inter-American Development Bank (IDB) as a shareholder and there are other boxes that they are taking these steps and possibly incorporate the WB or other multilateral bodies”, he pointed out.
More in Andean:
Promo North America 2023 begins today to benefit the exportable supply of products from the food, manufacturing and clothing sectors, says @Promperu ?? pic.twitter.com/pbYY1MGwEd
— Andean Agency (@Agencia_Andina) March 7, 2023
(FIN)MMG/JJN
JRA
Published: 3/7/2023
